Naira spilled N0.87 against dollars in the official window

The Nigerian currency, Naira, lost a further runway to the US dollar on the official market on Wednesday.

Foreign exchange data of Bank Nigeria (CBN) central bank revealed that Naira declined to N1, 599.79/$ 1 compared to N1.598.95/$ 1 traded on Tuesday.

This is the loss of N0.87 for local currencies.

In the black market, Naira lost N5 to be traded in N1.620/$ 1 compared to the previous day level N1, 615/$ 1.

Naira lost the N45 to the British pound to trade at N2.120/£ 1 compared to the previous day N2.075/£ 1.

Canadian dollars still survive stable at N1.150/Ca $ 1.

Naira lost the N55 to Euro to trade in ₦ 1,810/€ 1 compared to the previous day level ₦ 1,755/€ 1.

By: Babajide Okeowo

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